Your 1994 failed in 2010.
My 1995 failed in 2003. Mine was faster!
Seriously, The rear spring hanger failed on my 1995 Bronco. It completely rotted out and allowed the shackle to pull out of it. I ended up buying a shackle and hanger online and the hardware locally. Wasn't too bad really. The worse part was fishing the new hardware up behind the fuel tank. There was no freaking way I was gonna drop the tank on that job.
The rear spring hangers are most likely riveted on. At least I haven't seen a truck of that era otherwise. Grind the heads of the rivets off, then try to drive them out. I'm guessing they won't.........so on to the next step and drill them out starting with 1/8", then 1/4", then 3/8". Don't drill all the way through. There's no need for that. You just need to drill deep enough to get the rivet to collapse in the frame rail, plus when you go to drive them out you need a "bottom" to hammer against. Otherwise, your punch will become lodged in the rivet.
I would recommend using grade 8 hardware when you put it back together. It won't cost that much more.
IIRC, the whole deal was less than $100.00.
Here's LMC's page:
http://www.lmctruck.com/icatalog/fd/full.aspx?Page=127
This is an excellent opportunity to buy tools.
