This depends on many factors. Is it one debt? Is it all of your credit card debt? Do you have any other cc debt that is paid as agreed?
You can recover much more quickly if you have defaulted on one cc and settle it but you have other cc's that are paid as agreed.
It is more difficult to recover quickly if all of your debt is in default and you settle all of it without having anything that is satisfactorily paid.
Rebuilding your score is repairing and building up accounts (TL's) that are paid as agreed.
