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You are probably looking at anywhere from $250 to $500 from what I understand, depending on how "really bad" it is.
T-Mobile uses transunion so you could use your free annual credit report with them (assuming you haven't already used it) and see just how bad they are reporting it.
Keep in mind that in the depost fine print of the t-mobile agreement they mention that they can raise the deposit if there are changes to your report.
Go on the website and buy one. If you do that then no questions will be asked and your service will be set up and they just send the phone. Then you wont have to deal with all that paperwork. As long as your credit card has money on it your good!
"Buy Mobile Phones and Accessories from mPhone online shop, London UK. Buy SIM Free handsets (simfree / off-line telephone) that work on any compatible GSM ..."