emergency brake wont stay engaged

ive got an '85 S-10 Blazer and the emergency brake wont stay engaged. it works just fine when i hold down the pedal, but when i let go of the pedal it pops back out. if i hold the pedal down for more than 5 seconds it will stay engaged longer, but still pops out after a couple minutes. does anyone know what this could be?

The 'ratcheting' mechanism is probably worn out. I don't know if they are expensive, but you should be able to find one in the bone yards. You should be able to get the entire unit, including the brake pedal fairly cheap. You might even be able to test it before you remove it if the rear end and other brake stuff is still in place.

I had this same problem with my 2000 2WD S10. You depress the e-brake pedal and it just springs back. I also thought it was a worn racheting mechanism. Before resorting to a replacement, I doused the assembly with WD-40. Firsat lay down some plastic to catch the drips. I'd wear some safety goggles too. You want to get the fluid up behind the plate that covers the mechanism. Get all areas back there.
Depress the pedal a few times between sprays and keep at it. It worked for me. It's been fine for several months now.
If you do have to replace the pedal assy and you go for a salvaged part, I'd recommend getting one off a truck with an automatic transmission. Odds are it is used much less if at all. This post is probably too late for you, but hopefully it helps someone else.