Hello Jenessa,
I see no one has responded to this post yet. So, at this point I would recommend contacting your local Xerox Support Department to speak with a Product Specialist for more assistance. Please call 1-800-821-2797.
I have a 44 coil punch and when it punches the paper its like an inch deep into the page. I have fiddled with the settings and I am not able to get it to punch in the correct position.