That means that if you have four or five credit cards, even if there are no balances, it will count against you. So if you have cards that you are not using close those accounts. Work on getting those paid down. Judgments and liens also show up on your credit report. If you have either of these against you, make sure they get paid immediately.
Bankruptcy shows up also.
Chapter 7 stays on your report for up to 10 years. Chapter 13, also called the Wage Earner stays on for up to 7 years. Don't let that scare you though. There are even loan programs for people in this situation. Most lenders will require you to wait 2 to 3 years after bankruptcy is filed.