Thank You for writing into AskPatty! To answer your question, yes, there are a few ways to repair stripped threads. (1) Is a using a "TAP" sized to the existing hole. Or (2) using a re-coil kit, where alternative threads are inserted into the existing hole, so the bolt can be used. I recommend that you try the TAP first.
Hope this Helps!!
〉 Answered on Jul 31st, 2012 by Amanda J. Pierce, MBA "AJ", Certified Mechanic, Project Coordinator; Primavera Scheduler at VIGOR Alaska Industrial Shipyard & BizzM3ch Solutions