[sg.sam]

I recently purchased a 2002 Rodeo S 4 cylinder. The truck had about 44k on it when I bought it last month. The guy I bought it from told me he had just had all the belts replaced, including the timing belt... I decided to check my oil this morning after a 300 mile trip. I noticed some hair like fibers on the front of the engine. After further inspection, I could pull the plastic back some and I noticed that the timing belt is getting worn down from the side. In other words, it's about half as wide as it should be.

I haven't completely taken it apart, I just pulled the plastic cover back enough to look down in there. I'm scared to even drive this thing to the garage about 1.5 miles away. Does anyone have any clue what my problem could be?? Sorry if this is a common problem, but I've search and have came up with nothing. Thanks in advance.