I, too, would suspect that if you tried to brace up the wall from inside the basement, the forces of nature would find another place to make a crack. As for the rebarb fix, I can't say but I'd hold off for now. Here's why.
You may want to eliminate the hydrostatic pressure. During the next rainstorm, put on your boots and raincoat and grab an umbrella (watching out for lightening.) WHen it's pouring, go out and look UP to see if your gutters are leaking or over-flowing or non-existant! Fix the holes, correct the 'sloping' if they're over-flowing, and unclog any blocked downspouts. Also, where the water comes out the downspouts, it should be at least 3' from the foundation. Make sure the landscape is sloping AT LEAST 1/4" per foot AWAY from the foundation for a distance of AT LEAST 3'. (That's a 3/4" drop over 3' AT A MINIMUM. If you could double that, that's even better!) Make sure that whatever water comes out the downspouts or runs 'towards the house' is pooling where it would rise up and get to the foundation. Assuming you've done all this, you may find that you DON'T need a basement fix. That is, unless the basement wall is unsound or unfit from a structural standpoint. If it's the latter, surely you want to do something even if the wall doesn't move any more! BUt, if it's sound, you should be able to let it go, for now. You'll save a LOT more than $1,000 by just fixing all the water-related problems outside.
My best to ya and hope this helps.
PS: I, too, would rather pay now than pay later ... PPS: If the water problem outside isn't good, you may need a french drain to 'gather' the water and take it away. If this is the case, you'll need to say more about the 'shape' of the landscaping as it relates to the house. And do post a new question as this may get 'buried' rather quickly.