When I was learning to machine quilt, I bought several yarn tied quilts from the thrift store just to practice on. One of those is still on the bed, despite the dog-chewed holes in it now (didn't start out that way).
Typically I cut out the yarn ties first, then just cut the binding off 3 sides, using the one still together side on the top to hold things together a bit. Some of the yarn ties left pretty big holes, but I haven't had any real issues with batting coming out or the fabric further deteriorating.