Cheapo Solution for Hole in Front Pipe??

I've got a '99 Camry with 146 k miles. When there's a hole in the front pipe, sounds like some people just weld a new flex plate/pipe as a cheap fix. My local Midas said he wouldn't recommend it, as it will likely damage the catalytic converter.

I"d say I'd like to keep the car for another 30 to 40 thousand miles--any opinions on the cheapest way to go?

Thanks in advance,

Jon