There is always a risk that you will strip a screw hole when you re-tighten the screw. That takes a while, and knowledge, to deal with.
If any round screw holes on the same mounting plate are unused, you may be able to use one of them instead of the stripped hole.
If that solution isn't available, the simplest solution is removing the screw and filling the hole with Shoe Goo, and re-inserting the screw - which takes about 72 hours to set. I haven't tried using Barge Cement instead, which sets in 1 day - I'm not sure if you can easily remove the screw again if you have to. And I'm not sure how much you can speed up the set with a hair drier.
A very good Pro Shop Skate Tech who has practiced it, can fill the hole in a minute or two - but it does take practice.