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Well how about telling us on what yr truck?
If you can get a aftermarket replacement panel it would be the easier.
Do have a mig welder? an welding skills?
You first get the new panel in your hands before doing any work so you can see where it is going to fit into.
Then you need special tools to remove old rusted metal.
Rich
Sorry, forgot I even made this post. It's on a 1986 F-250. The panel is about a third gone. And it has traveled somewhat into the floor panel, not much I can do to stop it because there isn't metal left to sand down.