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I'm probably going to get flamed for this, but since it's already crap, and your budget is limited, you can check out cheapautobody in Langley. He'll grind out as much as he can, and fix with fiberglass for relatively cheap. It won't be as proper as cut + weld, but it might be what you're looking for.
I got him to fix up some rocker rust that was already bondo'd over and he did a decent job for the money. It's by no means perfect, and I did it knowing that it's a half measure. Then again, cut + weld doesn't guarantee that it wont' rust again in the future either.
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