I jacked the threads that the crank bolt for the balancer go into, i know i cant be the only one who's done this, some sort of info would be appreciated, i am not knowledgeable in re-threading/tapping etc.. Any help is much appreciated!!!!!!!

 

Ugh. Those threads are part of the crankshaft. No, you aren't the first...seen it happen more than once, folks using the bolt to pull an ill-fitting balancer back on, or using a bolt that's too short for the initial pull.

Start by getting a tap that matches the thread of the bolt you removed. Spray with light machine oil. Screw it one turn in..then back out. Clean the tap, blow any crap out of the hole and do it again, two turns. Clean, repeat with three turns and so on until the threads are restored. If there isn't any metal left to work with, you'll have to drill it out and re-tap for the next size up.
Might be able to use a helicoil, but I'll leave that call to someone smarter than me. I'm not sure I trust them on rotating parts.

 

^x2. What radi said is spot on. Tap and or rethreading is straight forward. I would follow his steps for it. I would avoid having to use a heli coil if at all possible in this situation.

 

Thanks fellas... Ironic, Auto parts stores dont carry any taps close to a 1/2x 20 bolt!!! Guess they never anticipate someone with an issue like this, so the hardware store got the nod!!! hope to get it runnin tonight!!