Buy yourself a left handed HSS drill bit then using a reversable drill start drilling it and the heat of the drill and the reverse rotation will often undo it. If it doesn't then provided the drill is the correct core size for the thread in question you should be able to peel the remainder of the thread out of the hole.
No easy way. if its a bolt and nut option, you just get a drill slightly larger than the diameter of the thread. Drill into the head or the nut till it falls off.
If its a bolt into a pre threaded hole(ie in the car rather than a nut) then drill out at the same size as the diameter of the thread then get a thread maker tool, to re-do the thread.
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