Removing it policy using BBSAK

[ghce]

Hi I have a bold 9000 runnning version 4.6 I have tried to upgrade it to ver 5 but it wont let me also does not seem to allow wi fi connection, the phone seems to have an it policy from a previous owner. I note the BBSAK says the factory rest function will remove this policy however when I click the button it says that it will will erase all data? which data? just the it policy or will this do a complete phone wipe? Could some one step me thru the process as to what happens and what i need to do to remove the it policy.

Graeme