HELP! Error 507

I have a Verizon Blackberry 8703e. I haven't used this phone in a month (out of the country). Well when I came back i had forgotten my password (I set the password up so my nosy friends wouldn't go through my phone). So i entered it incorrectly to wipe the data - hoping it would do a master reset on the device so I can hook it up to my desktop and resync the phone. All of the sudden I get an error 507 (image attached - has a circle, rectangle and a triangle all in a box).

I have left it on the charger for now.

I have searched this forum to find the following link discussing it:
http://forums.crackberry.com/f6/error-507-help-15554/

His issue is for T-Mobile 8700C while mine is Verizon 8703e.

Also, if the resolution to my problem is to update the OS, would this work?:
http://forums.crackberry.com/f6/newe...1-110-a-18403/

This is my first problem with my Blackberry (i've been a wm5/wm6 user for years and am a recent convert!)

Thank you for all your help!

UPDATE: Reloaded the OS using the link above and used the following Sprint OS on my Verizon 8703e
https://www.blackberry.com/Downloads/entry.do?code=FC3CF452D3DA8402BEBB765225CE8C0E

I hope my ordeal helps another lost soul with a 507 Error.

Mods if you think this thread is useless, feel free to delete it.

Do a search for " how do i recover a dead blackberry" that should help you. Ijust had the 507 error myself and the ppl @ Verizon were useless. The only thing they did is set up to sent me a pearl. I didn't use that post because I couldn't find it while I was stressing my phone. So if it don't work for you sending me a message and I'll try to help.