Just 'cause I sold my brick today doesn't mean I can't chime in once in awhile I suppose. The hole in the floorboards of my brick was long and skinny, it parralleled the back of the driver's seat. I used heavy weight fiberglass and high quality resin and I think it was stiffer then the passenger side pan without the rust, after fiberglassing. For those that are opposed to fiberglassing, and I was one of them, remember, they build whole boats out of this stuff, it's stiff and it's strong.
The problem with the body shop idea is that you'll be hunting for one willing to tackle rust stuff. The problem with them attacking a rust issue is they can't warranty it as long as they can replacing a fender. There are some shops that will do this but you may have to ask a few to find one and then it's big money. I found a cheapo guy in the sticks (who I would have used if my friend the boat builder hadn't talked me into the fiberglassing) who would weld a patch in for around $500.
Make sure you tackle the cause of the rust as well. Volvos, especially the floorpans, usually rust from the inside out so you need to figure out where the water is coming from. Typical locations include the rocker panel, the windshield, the sunroof, the door, etc. etc. etc.
Hope that all helps, good luck
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Portland, OR 1987 240 dl wagon (not so rusty anymore) 'rustbucket'
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