Originally Posted by Rev.Chuck

If it has horizontal dropouts you could whack the hanger off and make a single speed out of it.
Both of the repairs work, I would spend the money and get one of them done. I like the helicoil better but you need a wide dropout for it to work well.
You could braze in the hole if it is steel. If you fluxed it then heated just enough to get flow, the brass would fill the threads. You could then retap. this would probably work.