Time Machine error creating backup folder

I have My Passport for Mac and each time I try to use the Time Machine I get an error message saying “TIME Machine could not complete the backup to “My Passport for Mac”.  Unable to complete backup.  An error occured while creating the backup folder.”

I’m using a 4 months old MacBook Pro with OS X operating system.  I contacted WD, but they told me that they can’t offer support for Time Machine issues.  I contacted Apple, but they were not able to help.

I really hope someone has come across this issue in the past and may have some suggestions.  Many thanks to all.

Go to disk utility and verify the disk, see if any errors on the drive

I tried doing verify disk and repair disk and both of those were successful. But still no luck.