There's more than one way. "Seventeen oh seven" is probably the way I would read it, and probably more modern. "Seventeen hundred and seven" is also correct, but perhaps more formal or old-fashioned.
September 22, 2014
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One thousand seven hundred and seven if it's for something like money
Seventeen oh seven for dates or addresses
One seven oh seven for phone number
September 22, 2014
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For a date, always seventeen o seven. For a number, either as Dan has written, or, one thousand, seven hundred and seven. Both are correct.
September 22, 2014
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