The saying, "you can't fix ugly" comes into my head. You have to get it laser removed or covered up. Why would you rush a decision to get a tattoo like that? Did you do much search on the person who tattooed you? Back ground and past tattoos are really important. Be careful if you choose to cover it up. There is also a different between a $50 and a $200 tattoo.
'Without much thought' i think this is the core of the problem... you can remove it with laser, yes. But it's expensive and at times doesn't work completely. When you get a tattoo, you are prepared to wear it your entire life. Be more careful next time. Wish you luck with your problem!
If you want it fixed you could either ask a tattooartist to put a tattoo over it to cover it up or you could have it lasered. Why do you hate it though? Is it because of a bad artist or because you don't like the drawing and writing anymore?
laser it. lol learn from this mistake and NEVER get any tattoos done unless you're ok with your grandkids seeing their 70 year old grandma with tattoos (though it sounds kinda badass now that i think about it).