Original Creditor/Collection

I wouldn't think so, unless they're for two separate accounts with the same creditor. Generally, it's one account = one tradeline. Who is the creditor, what are they reporting, and precisely how?

HSBC Bank

Status: Paid in settlement/Collection account.
Account history:
Collection as of Jul 2004
Charge off as of Dec 2003

Did you settle with HSBC after the acct was charged off/placed for collection? If so, it looks accurate

Within a tradeline, accounts have different descriptors, or flags, that give additional information about the account. A status is required for every tradline, but there can also be a Consumer Information Indicator or a Compliance Condition (which are only required under certain situations), or a Special Comment (which is optional by the creditor).

In this case, "paid collection" is the current account status, while "settled" is a special comment. The account had a previous status of chargeoff (12/03), and they waited about 7 months before it was sent to collections.

Of itself, I don't see anything wrong with the way it is reporting. Unless the information is flat out wrong, in which case you should dispute it.