alright, so I bought a used guitar recently, it didn't come with a tremolo arm, so I ordered one online, I got it in the mail and tried installing it in, but
it didn't fit,-- turns out the previous owner put a screw into the tremolo arm hole/piece --

now the screw is warped and I can't get it out,
I'm considering getting a screw extractor and taking it out, sounds like it'll work, but I need to make sure I'm not screwing up (no pun intended) my guitar for the future

any suggestions or thoughts, whether you think it's fine, or not worth the risk?

Can you post a picture? Either way I would recommend taking it to a shop and having a pro do it so that you don't risk any damage to the guitar.
Your opinion is just that, YOUR opinion. It doesn't make you right. It doesn't make you better. It doesn't make you god. Everyone has their own view and that view is neither right or wrong.

Ignorance destroys music.
yeah, I'll post one up tomorrow, it's also pretty hard to see though (which is another problem)