Do you mean the "bump" in the wheel is on the side opposite the loose spoke? If that is the case, you will need to tighten at least the loose spoke and the two spokes on either side of it. Try tightening the loose spoke until it has roughly the same tension as the spokes next to it, and then tighten the two opposing spokes each a quarter-turn at a time until things start to line up. Check also to see if the wheel is out-of-round while you do this. If it is, report back for more advice!

Wheel truing is not hard; it just takes patience.