What you describe is a known issue with Premiere Elements 13/13.1.
Adobe has given us the fix which appears to be deletion of the OldFilm.AEX file.
Windows 7, 8, or 8.1 64 bit
Local Disk C
Adobe Premiere Elements 13
and in the NewBlue Folder is the OldFilm.AEX file that you delete or disable by renaming the file from OldFilm.AEX to OldFilm.AEXOLD.
Please let us know if it works for you as it has for others.
Your reply solved the issue.
Thanks for the response.
Thanks for wonderful news that your issue was resolved using the deletion of the OLDFilm.AEX file as suggested originally by PRE_help.
Best wishes with your projects.
Your follow up is appreciated by all.