Just want to say, if you have a panic attack you'll know it. And paranoia might be a strong word for what you're suffering. We don't know anything about you or your difficulties, but the term mood disorder means some pretty specific possibilities none of which you necessarily have just because a doctor used the term -- as you go along in the world you'll find that doctors are like anyone else, some are much better at what they do than others, and sometimes they say things that have much more meaning than they intended. But the important thing is, don't get bogged down with labels -- much more important is what you're feeling and how you think about things, and what you can do to change it if the way you're doing it isn't working for you.
Aaawww! I am so sorry you are having problems, but so glad you came here for help! :-) Please understand that we are not doctors here, so we can't diagnose you, or tell you to do any particular thing. We are happy to give you support, and suggest things you could do to feel better, though! :-) I think that it is best to obey your psychologist, as he knows more than we do on child psychology. I will say this though: repetetive negative thoughts, especially thoughts that are irrational, are unhealthy. I suggest you stay busy with school, friends, and helping out at home, to avoid these thoughts. Blessings, and please come back anytime, we are here for you! :-) - Blu