Like the old featherweight - that's the advantage to vertical bobbins. You can take the bobbin out of the machine and cut the threads to get the fabric off. Once the bobbin's out, tip the machine sideways and you can see what you are doing.
If the fabric isn't down the needle hole, one of those serger scythe type seam rippers works well. Just lift up the fabric enough and you can cut threads with one swipe instead of trying to get scissors in there.