Insulating basement walls

Hi Tom,
I have a question about insulating my basement walls. We have a 1930s
bungalow with a wet basement. We had a comany dig a trench around the
perimeter of the basement, install perforated drain pipe and gravel, and
re-cement over the trench leaving a 2 inch slit along the bottom of the
wall. The walls are crumbly on the surface and some of the water that
comes in runs down the walls into the slit above the drainage. I was
thinking about putting styrofoam panels on the walls to provide insulation
and further contain the water but allowing it to drain behind the styrofoam
and down into the slit. Because of the wet walls, I thought this might be
a better choice than putting fiberglass up.
What is your opinion on this? If you agree with the styrofoam, do you have
a suggestion on the best way to attach it?
Thanks!Jo Ann Higgins

Hi,
If you are considering installing foam on the inside, I suggest using spray
foam. It sticks to everything. It will also act as a water barrier that is
fairly effective.
Spray foam also helps hold the walls together.
Tom