I’ve excavated out the exterior, let the wall settle back, waterproofed, then backfilled with gravel. It’s been good for 20 years.
I’ve also helped a buddy with the steel C channel fix. I helped him install the C channels to keep the wall from moving any more. Anchor bolted it to the footer, ran it up to the sil plate, and braced it against the rest of the joists with blocking. His design, I had never done that work before.
He finished the basement and sold the house soon after, so I have no idea how well it worked.
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