As long as you have adequate threads in the hole when the bolt would be all the way in, you can fix the bolt with a thread file and or regular file. I fix them all the time with no issues (I work with Josh and Allan
) It just requires some patience and if the threads are completely gone, it may be worth either putting a chamfer on the bolt or cutting it shorter. Either way, there would have to be enough threads left when you are done or it would be a mistake.