This sounds like a software/hardware issue within the camcorder. What I'm wondering is if the files can be viewed on your computer, verifying that they're good. Have you tried that? In my limited experience with camcorders, I've observed that it usually isn't cost effective to have them serviced, since that cost of so high. If it's under warranty, by all means have it serviced, but you have to be careful. Some companies won't cover repair if they suspect abuse, liquid spills/damage, etc. If you can still transfer your videos to the computer, I, myself, would just live with this limitation. If you do decide to have it serviced, make sure you get an estimate first, and decide from there whether to service it or buy a new one.
As an afterthought, try taking the batteries out for a bit, then reinserting them. This might reset the cpu, if that's part of the problem. Also, try to figure out if the batteries are still good, since a low battery could have possibly written bad information to the memory, and now can't read it. That's all I can think of, and hope this helps.

Hi,
Are you getting this error while playing in PC?.. then there could be problems occurring at the time of recording only... If this error is of software in type then... Set your camera to factory defaults.. if still face problem then update your cam's firmware.... If you still face problem then Sorry you have to get it serviced, cause there is a hardware error in your cam..
Hope this has solved your query. Thanks....