If you're lucky you can reuse the heat shrink, otherwise get a new piece and slide it up the wire out of the way until you've got things re-soldered.
Try to heat up the clip first since it has more mass than the wire.
You'll probably want to clip an alligator clip to the wire just below where you'll be applying the soldering tool. It will act as a heat source to keep the heat from traveling up the wire and melting more of the insulation.
Then slide the heat shrink over the joint. I've found a hair drier works pretty good with this small of heat shrink.
Had this happen to me several years ago with a MMF-7. I used the opportunity to re-wire the whole arm with better clips and wire. I think I spent about $40 and a couple of hours on a Saturday.
Try to heat up the clip first since it has more mass than the wire.
You'll probably want to clip an alligator clip to the wire just below where you'll be applying the soldering tool. It will act as a heat source to keep the heat from traveling up the wire and melting more of the insulation.
Then slide the heat shrink over the joint. I've found a hair drier works pretty good with this small of heat shrink.
Had this happen to me several years ago with a MMF-7. I used the opportunity to re-wire the whole arm with better clips and wire. I think I spent about $40 and a couple of hours on a Saturday.