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How bubba are you
Install a longer bolt and put a nut underneath
Drill it out and tap to the next size bolt
Drill it out and installing a thread insert (or helicoil but that needs special taps etc) will keep the size as the original bolt and maintain strength
Replace the panel with a new one.
Personally I went medium-light Bubba and installed a thread insert when I found the rear-outboard thread was stripped on my passenger seat (and bubba before me had installed a longer bolt and nut)
M
My 81' pax. side seat has a stripped nut...the temp. repair is a longer bolt and nut...the permanent fix is a helicoil (or similar)...the kit contains the drill, the tap and several inserts, for about $18.00 at most auto parts places...Good Luck