Adverse Chase Account from 2007

Hi everyone, I'm just starting the process of trying to improve my credit score and am a complete novice. Forgive me if my questions seem common sense.

I have all three of my credit reports and am trying to go through everything.

First one I'm going through is Transunion. I'm finding one of the adverse accounts confusing.
----------------------------------------------------------------------------------------
It's a Chase Credit Card. Credit limit was $2500, high balance was $82. The account was open for what looks like 5 months maximum, from late '06 to early '07.

Pay Status: Paid or Paying as Agreed.
Account Type: Revolving
Response: Individual

It states that it was closed by consumer.

Than it looks like this:

Late Payments
7 months Last 7

>1> 0 0 Months
--------------------------------------------------------------------------

1) How could my payment be late 7 months when according to the dates, the account was only open 5 months?

2) Why does it say "Paid or paying as agreed" if I was 7 months late?

If you could help me understand this listing and have any tips for getting it removed it would be wonderful. Unfortunately, I don't remember which card they are even talking about.

This would be on my record until 2014.

Thanks in advance!!

~ Francine