Context: im 17 but when i was 16 and on my way home from school i did an "improper lane change" and hit somebody coming from behind me. I checked my mirrors and didnt see anybody but it happened. The lady jumped out her car and started screaming it was all my fault and i hit her car etc;. I stayed in my car and called my parents (i wont lie i was crying). The police came and asked if i was hurt and asked the lady we both said no. The lady said it was my fault and i obliged because i didnt know what else to do. My driver side door was completely slammed in and there was plastic + glass everywhere along with dents to the back of my car. Her cars passenger front part was dented and her light was broken. My parents suspected she had turned off another street and hit me because the back of my car was dented and we collided near the front but i had already admitted guilt to the police so it was my fault. I payed my fine and did the defensive driving. Its been 8-9 months and my parents just got a letter in the mail, the lady is suing us for 50 grand. I feel so guilty and were not well off at all. What happens now what do i do?
Location: GA
EDIT: shes suing for therapy and medical