Answer: -Wooo! Congrats on that one! Your credit score should bounce up - how much depends on the rest of your credit report. If you have outstanding credit other than this one item, you could shoot up 100 points or more, but if there's other baggage, you might only go up 10-20 points. -Negative items are only one part of the information that goes into your credit score.Removing the negative item will help, but you have to pay all your bills on time all the time, you must use only a portion of your available credit and stay away from applying from new credit.The age of your credit accounts is also taken into account.It might take six months to a year of good credit behavior to get your score to 650.