Interface And Graphics :: Saving An Image To A Folder (A Generic Error Occurred In GDI+)?

I have a problem when trying to save a picture box image ( I am using vb2008 express edition)When i load my windows form I create a folder called images and the current date (eg images 24062011) using the following code.

Code:
Dim fold As String = "images" & " " & Format(Now(), "ddMMyyyy")
If My.Computer.FileSystem.DirectoryExists("C:usersmickdesktop" & fold) Then
MsgBox(" file exists")

[code].....

this works fine and creates the folder on my desktop. I then load an image into a picturebox and try to save it using the following code which is where the problem starts.

Code:
Dim filename As String = Format(Now(), "ddMMyyyy")
Dim imagename As String = "image"
Dim fileext As String = Drawing.Imaging.ImageFormat.Bmp.ToString

[code].....

so my problem is why does the 1st statement give me the error as surely as I have declared that fold = the folder name then that path should be correct, as the program is set to save the image automatically, not using the savefiledialogue I don't want to have to manually type in the folder name every time I use the program.