I have an infected Toenail?

My big toe was stepped on during a basketball game back in October of 2009. It was fine for the 1st two weeks, then the skin around my toenail started to turn red and it would bleed. There is a small piece of skin that has formed on the bottom right corner of my toenail, on the nail bed. The skin does bleed and has an odor to it. The old nail is starting to come out and the new nail is trying to grow in. The nail bed that is coming out is a yellowish color and is hardened. Does this sound like a nail fungus more than an ingrown toenail? By the way I am doing the Peroxide treatment and keep the area clean.