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How to fix power sterring problem?

I have a fiat punto 1.2 W reg i have only had it 3 months and all of a sudden the power steering does not work and there is a warning light of a steering wheel on my dash. At first i thought it was the wheel locked but i could still move the wheel but with great difficulty almost impossible to move. My warranty has just ran out as well. Does anyone have any ideas what this may be. I was thinking about getting this fixed then selling it im a student nurse can not afford to pay out load of money. Thank you
Dawn, October 2007
First check the power steering level. it could also be the power steering pump or steering rack the latter being the most costly. sometimes the fluid can leak out and if you have not driven it much it might not have damaged the pump and all it might need would be a top up of fluid and bleed it by turning the wheels fully each direction for 5-7 times.if its fluid the source of the leak must be found. this is best case scenario.

mike07, October 2007
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