So before this all happened I had some issues. When I was driving it would rev up to high rpm and struggle shifting in 2nd most but also in other gears including when I try to first go. In revers it would also rev high and than slowly inch back and gain speed and when it got up to speed I was able to stop and go back at regular speed. I also have had a transmission leak from the cooling lines and still is there but it solidified to a pink gum and still leaks regular looking fluid.

The problem I have now is in reverse it will rev up to low rpm and refuses to go back even on my driveway that is on a slant. It's like its in park. In neutral it will simply drive forward when i let off the brake. All the other gears work (over drive, drive, 1st, 2nd, ext.)

I checked the linkage as well and it was fine and fit in all slots running and off.

Can someone please help me out with what the problem is and what I should do.

 

It needs a rebuild. That tranny at that age is almost positively done. 700R's werent the best transmissions to start with. The leaks are most likely what killed you. It is extremely important that the fluid level in any automatic trans be kept at proper level. there are a few things tha coukld have happened to make it due what you say but most of them are an exspensive repair or would require a rebuild to correct in the first place. I have a 87 3/4 ton chevy with a 400 turbo i it with well over 200,00 miles on it and when it went it was a very siimilar situation. They are not the same tranny's but they have similar problems when they wear out. It is time i am affraid. Being an 85 you could probably out a good old 350 turbo in there with out oomuch trouble but they are only 3 speed's.