I would remove the wire from the outlet that it's still connected to, so the wire becomes a dead wire. It would be a pain to remove it, since it's in all likelihood stapled to studs. Then I would fish through new wire to ensure the circuit remains intact. You shouldn't have to worry about an overloaded circuit, as you're just removing load from an existing circuit. It's still not a bad idea to figure out just how much load is on that circuit to make sure you're okay, though.
Either that or install a jb in a location that isn't visible but is still accessible, like behind a drawer or under the sink. Still, not as good a solution. It's just another point of potential failure.
If it sounds like too much work, call Bindair. Judging by what I've seen in his previous electrical trade related posts, the guy knows his stuff.
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