Outlook pst file seriously corrupted?

Hello guys.

I have been using MS Outlook 2007 from a last couple of years. First I used it on Win 7, but now I'm using it on Win 8. I never faced corruption issue while using Outlook in Win 7. Last week I was trying to open one of .pst file, but I couldn't. I received this error: "Outlook.pst is not a personal storage folder file". I searched about this error on some forums and most of them declared it a corruption error. So I tried SCANPST.EXE to determine the main problem behind this error. It didn't show any error. It seems SCANPST.EXE is not able to fix it. Is there any other way to fix this corruption, if it is corruption? Or, is it possible to resolve this error without using any paid pst recovery software?

Please help me.

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