right infront of my transmission fluid pan there is a cover that seems to be half ways falling off, what is this? It seems like a cover of some sort, what does it mean if its half ways falling off? do i need to replace something?

 

That's the guard for the flexplate/torque convertor, it keeps them clean and undamaged. Just get some bolts and replace the ones that fell out, use locktite on the bolts too.