Last weekend I set my parking brake all the way down and I could not get it to release. The pedal was stuck to the floor and would not release. Today finally I pulled the parking brake pedal assembly from the car and found that the ratchet functions normally as I depress the pedal (click click click...) but as I reach the bottom of the pedal, the ratchet just flops over off the track. (This is the point where the parking brake remained stuck last weekend.) There is some lateral play in both the pedal and the ratchet. The torsion spring does not seem to be keeping the ratchet in place.

Has anyone rebuilt or worked on this assembly?

Pic 1 shows the parking brake ratchet on-track
Pic 2 shows the ratchet slipped off the track
(both after being pulled from the car)

I'm going to guess that it would be cheaper and less labor intensive to just replace the whole assembly. You can get just the spring from Rock Auto if you think that will help. Otherwise I found the whole assembly for around $60. Personally, I would say don't use you parking brake, or find junk yard parts.

I don't think it should be going down that far.

If you can, put the rear of the car up on ramps(parking brake off) get underneath and grab the cable. Is there slack in it? If so, your cables could be stretched, or your rear brakes are out of adjustment.