Here is a link
to what the 507 error means.
Since you wiped your BlackBerry, there is no operating system on your device. Please follow the instructions provided on in the thread I previously linked to, or use what finch already stated.
In a nutshell,
- Download the handheld OS for your specific BlackBerry model and cellular carrier. For example, dont download a Cingular OS for a Verizon BB.
- Install the downloaded OS to your computer.
- Connect BlackBerry via USB and launch BlackBerry Device Manager.
- Double-click on Application Loader. Follow the prompts.
- When the list comes up with what to install, dont forget to scroll down and select everything.
- When the Application Loader says its done leave the BlackBerry alone. There is still up to 30 mins to go.