Hey Apple Core, I need your help...

So I've got a 2011 13 inch MacBook Pro and I've got a small problem...actually it's a rather large problem. The hard drive got corrupted and I lost everything. Fortunately the data loss isn't that big of a deal because I had everything backed up. However, I reformatted the drive and went to reinstall Mountain Lion and I couldn't. Everytime the install from the Recovery HD would start, it would immediately show a message on the screen that says "OS X Mountain Lion couldn't be installed, because the disk Macintosh HD is damaged and can't be repaired."

I've tried to repair the disk in Disk Utility and it said that it can't repair it. It says to back up important files and erase the disk, which I did. Then when it tries to install Mountain Lion I get the same error message as before.

Anyone have any ideas on how to fix this? I really hope I don't have to buy a whole replacement hard drive because I jut don't have the money right now. Thanks for any help.