Deinterlacing Text when I export

So first off, I filmed a dance recital and I have it all edited, rendered and what not. I Have my media encoder all set up and ready to go. I finally noticed the nice little deinterlace button in the corner(not very observant sometimes) anywho...I click it and it nicely smooths out the dancers when they move, which I was pretty dang happy about. But I go to one of my text moments in the video(which are .psd imported into premiere with white background and black text) and my text is just unreadable, it all garbled and shifted in places in the letters.

I've tried changing the font and how bold the text is and I still get the same outcome. Plus I'm new to deinterlacing too.

Any help would be greatly appreciated.
 
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