Seems that the tape is misaligned as it passes the audio/control head. This is the static head to the right of the main cylinder. You'll see a wired connector fitted to it.
Lift the front flap of the video cassette tape to check if the tape is getting creased. (Press button on side of tape to release the flap.)
If you see a line along the edge of the tape then the tape is getting permanently damaged by wear or misalignment in the machine.
On older machines it's often due to worn lower cylinder causing drag on the tape. Occasionally, worn pinch roller or oxide build up on the capstan will cause the tape slide off the guides and become misaligned at the control head or creased.
Otherwise, check the tension arm which swings out at the right of the mechanism (looking from front of machine), is not sticking. It is usually a plain chrome arm/guide and pulls the tape across the audio/control head and capstan which are to the right of the cylinder. These stick on some makes, and it should move freely from a stop position.
If there is no damage to the tape itself, check that the loading gears which run on tracks either side of the cylinder, pull the tape to the absolute end of their travel and sit firm on the end stops. If one is loose at the end stop or fails to reach the end stop, tooth damage can be suspected to the loading gear(s).
Occasionally, the loading gear guides can become loose. There are the screw heads on top of the white rollers. These are critical adjustments. However, if you have nothing to lose you might check that the adjustment screw on top of each roller are not loose. First insert a pre-recorded tape ie. a store purchased film or such. That will suffice as a rough test tape. If they are loose turn them no more that a quarter of a turn and back again if there is no improvement.
Don't adjust any other alignment guides, as they rarely go out of alignment and it unlikely to be anything other than worn parts.
Finally check if brakes are sticking which can affect tape tension.
Cobweb, May 2007