2005 Chrysler 300

Steering problem
2005 Chrysler 300 6 cyl Wheel Drive Type unknown Automatic 26000 miles

I heard a noise (squeaky) coming from the steering column upon making tight turns like out of parking space or driveway. I took the car in and they said it was the " lower steering shaft". Should something like that go bad on a car w/ 26k miles? That's scarey. What causes this to go bad and what would have happened had I not caught this problem?
February 26, 2008.

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