Rebuilding Bad Credit

Hello everyone :)

I don't normally ask for advice on these kinds of pages, or from anyone really, but I am just wanting to know the best way to rebuild credit history for the future prospect of buying a house? How many years to rebuild etc? And what kind of steps to take, including a bit of advice about what kind of money to be saving for a deposit? If you successfully pay out a loan with a few defaults on that loan, will it still work in your favour or will it work against you? I once vowed to never be young and stupid but, well.. Stupid got the better of me, as the big banks and the big lenders and greedy salesmen generally intend it to :(

Learning to live within my means has been a MASSIVE learning curve for me over the last few years, BUT I am now, and I don't want my stupid teenage decisions to affect my family's financial security forever. I get that my actions have consequences which I am prepared to deal with, however, I still want to have something I can pass on to my kids when I'm gone. I can't go bankrupt, and I don't just want an easy way out either. I got the loans etc, so I am taking responsibility for that and steadily working toward paying off ALL of my debts. If anyone has any sound advice, on how to get OUT of this kind of hole (not about how I got into it, or how I shouldn't have) that would be greatly appreciated.