If your computer operating system is Windows 7, 8, or 8.1 64 bit, I would make this "just in case" mention about the BadDrivers.txt file location for Premiere Elements 12.
Local Disk C
in the Premiere Elements Folder is the BadDrivers.txt file for version 12 that you are going to delete. Besides the BadDrivers.txt file in that Premiere Elements Folder can be some folders which will contain a BadDrivers.txt file for the program designated by the folder name. You do not want anything in those folders (if there) in the Premiere Elements Folder in the path cited. You want only the BadDrivers.txt file in the Premiere Elements Folder.
Looking forward to your results.
Are you within 30 days of purchase of Premiee Elements 12 purchased from Adobe?
Add On to my post numbered 2....
I missed the point that John has caught in your post
This blocks my use of the product I have bought from you
As he has stated, we are not Adobe. This is a user to user forum, and I am one of the users of the program. So, I did not want you to think otherwise when I concluded my previous post with
Are you within 30 days of purchase of Premiere Elements 12 purchased from Adobe?
Depending on your reply, I was going to post a link to Adobe via its Adobe Chat for you to deal with "Orders, Refunds, and Exchanges" which is strictly an Adobe matter.
If you click on the link, when it opens, click on "I still need help" to bring up the Adobe Chat.