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Larry, I was having a shifting problem and it was the tranny linkage, not the tranny itself. My mechanic buddy fixed in about 10 mins. If it was working well and suddenly quit it could be a simple fix. Hop it’s no in the gearbox itself. Everyone should be lucky enough to know someone who understands old school mechanics. Also, get a shop manual for 55 Ford.
Is it a manual or automatic tranny? My earlier suggestion pertains to three-speed manuals.
If your Thunderbird has a Fordomatic transmission, reverse is accomplished by hydraulically applying the rear band and the rear clutch. Since the rear band is also applied when the transmission is in low range, if the rear band was broken or if there was a fluid pressure leak at the rear servo, the transmission would not operate in low or reverse gears. Since the rear clutch is also applied in when the transmission is in high range, if there was a fluid pressure leak at the rear clutch piston, the transmission would not operate in high or reverse gears.
