[member=26202]Gnovice17[/member]
The fact that you were able to show the stuck bit without the collet nut suggests that you did not have the collet nut fitted correctly.
With the collet out of the router and no bit in it push the collet (hard) into the nut until you hear a click and the nut is captive on the collet.
The nut will now pull the bit out of the collet as you unscrew it past the first locking position.