SMARTFINANCESOLUTIONS.NET - I need advice please?

Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - I need advice please? - This is my situation:

When I was eigtheen years old, I signed for a friend to get a used car from a dealership. Not knowing what I was getting myself into. Turns out that the lady that I signed for let her brother drive the car and he's not licensed, so one day the police pulled him over for speeding and inpounded the car for 30 days. I tried to get the car out, but I was unable to due to the hold that was placed on the vehicle. Before the thirty day period the finance institution took the car out and sold it. I contacted the finance institution several times and unfortunately I was not able to do anything about it. So, the car was lost and the primary holder filed bankruptcy as a result the bank is after me. I have received three collection letters and I'm afraid of what might happen. I'm twenty-one years old I don't have equity, I'm currently working to pay for my schooling while going to school. I can't afford to pay $7,456.70 plus interest. Yesterday, the letter I received states, Since we have been unable to resolve this matter with you -