Delinquency reported date is incorrect...

My son had a revolving credit account that is listed as "paid & closed" on his credit report and also is listed as "settlement accepted on this account; charged off account". This is accurate. However, this settlement payment was made in 2004. The report states that it was reported 10/2009 (because of a credit check or???) and that the date major delinquency was first reported is 07/2009. Firstly, how could it have been paid off in 2004 with a first report date of 7/2009? Secondly, is this something I should pursue to get corrected? How? How does this incorrect date affect his overall credit rating? Thoughts? Thanks for your help!