When you ask a question, the information you need to provide... Premiere Elements FAQ http://forums.adobe.com/thread/1042180
So... with no computer information, some previous discussions that may, or may not, help
This says to use a TI chip for firewire http://forums.adobe.com/thread/940242 what chip is your card?
Win8 and Firewire capture http://forums.adobe.com/thread/1107334
Win7 and Firewire http://forums.adobe.com/thread/521842
I'm with John.
Are you running Windows 7?