One problem related to brakes failed has been reported for the 2002 Chevrolet K1500. The most recently reported issues are listed below.
My Chevrolet silverado pickup (1500 4x4) has experienced three major brake failures. The first failure was while driving and approaching a stop sign. When I attempted to brake, my foot went to the floor. After pumping a few times, the truck slowed but with little stopping power. The vehicle was immediately towed and brake fluid was actively dripping from the lines. The second failure was about a year later while driving at low speeds (<5 mph) while parking. Again, my foot went to the floor before the abs system activated (completely dry conditions) with essentially no stopping power (abs activation but no braking power). This resulted in an accident as the truck did not have enough room to effectively stop (thank goodness the car in the parking space in front of my was unoccupied). After being repaired by the dealer (twice), the problem just occurred again (approx. 2 years later).