Unable to erase data in HTC Desire X via fast boot?

Hi,
I recently got a Desire v from my friend and it has apps and contacts installed by him so thought to erase data using fast boot. But I am unable to erase the data via fast boot it is giving some error out of memory. How to overcome it.
Is any one having same problem or can help me out?

Hello friend,
The problem seems to be pretty interesting but, until and unless you would not be telling that what error is it showing I can not provide you the solution.
Please tell me what the error says than only there can be a solution.