You believe the loopers are out of alighnment...have you had this confirmed ?
First place to start is to change the needles,replace with jersey/ball point 80s needles.Second,check the threading...then check it again.Threading is vital,one mistake & it can throw the whole machine.
If when you've changed the needles & ensured the threading is correct you find the machine still doesn't function then it's time to get an expert in.It's not quite a simple a resetting the loopers,there are needle guards,take up's etc & there is very little margine for error on a serger.
So...heres the bottom line.Lets say it's going to cost $100 to have your machine repaired...consider how much it would cost to replace your machine if you got it wrong.
Sewman
October 2012