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My Credit Score Dropped 120 Points Since January How Long Does it Take To Recover?

Never missed any payments but my revolving credit usage is high and fucking NewWave sent me to collections over $50 because they insisted I was renting their cable modem which I had owned for over 5 years. Provided I pay most of this Shit off, how long does it normally take to get back up?

Specifically, it was 750 according to Dell before I bought my X51. Now according to Fuck it's 635. I need to buy a new car and I don't think that will cut it. Is there anything I can do about the collections thing?
 
Yes, absolutely. If the debt isnt valid, dispute it with the credit agency. They'll investigate it and wipe it out.
 
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