Motherbard Sound Card bad Mic port?

Hello everyone,

So I just purchased the Steel Series Siberia v2 3.5mm headset (NON USB). This is the first time i've used the rear panel mic jack, as my previous headset's mic input was USB, and audio via the Green Jack. The mic quality and level that i'm getting now is just horrible. I've tried everything I can think of and from researching online, this is a pretty common problem that nobody has been able to resolve. When I use Skype and record gameplay, my mic level is SO bad, but the game audio sounds fine. To get it to an audible volume, I need to add +30db microphone boost, which degrades the quality TERRIBLY. All my firmware and codecs for my sound card are up to date. I'm out of options here, and I really don't want to return this headset, obviously because i'll get charged a restocking fee from newegg. Is there any way for me to get this to work? I don't understand why this is happening, because the audio jack (green) works perfect, the only issue is my Mic Jack (pink). I've literally tried everything that i've read online from unistalling/reinstalling the drivers, plugging into the front and rear panel mic/audio jacks, going into BIOS, (pretty much every "Solution" that i've found online) but to no avail (I'm not the only one either, it seems like nobody has found a solution yet). My motherboard is an ASRock z77 Extreme 4, using Realtek HD Audio. Please help out if you can!