Chevrolet Tahoe

2001 tahoe 40k miles parking brake goes to the floor and does not hold truck. I checked the adjustment under the drivers seat and it is bottomed out does this mean I need to replace my rear pads or is there another adjustment? Any help would be great thanks
August 4, 2007.

The parking brake on your truck is one large circular shoe the it inside of the brake rotor. You need to pull the caliper and brake drum off to get to it. Once there you can see what kind of shape it's in. Most likely the adjuster is seized and the lining has disintegrated.