My Site Tanked By Latest Google Penguin Update

Hey everybody,

Thanks so much for taking the time to read my post. My website : http(colon)//bit.ly/Iu2pMI was recently (April 24th) tanked by Google. For 170 keywords I was dropped off the first 10 pages, while I was previously generally on the 2nd page, with about 20-30 terms appearing on the first page (and about 10 in #1).

I am assuming this is because of my backlink profile, which I got from an SEO company that I used here on Freelancer. I do not know much about SEO, and could really use some help here. I was getting around 100-150 hits a day, and I haven't received a single one since the update. I am absolutely panicked and have no idea what to do now.

Please help me out, any constructive help or criticism would be ever so greatly appreciated,

Thank you,

Ryan