Sorry to hear about the troubles you have been having. This has been known to happen when a corrupt app has been downloaded. In such a situation, I've had a better success ratio of equipment performance by completing the alternate factory reset, not through the menus. As always, I recommend verifying that all of your personal info is backed up prior to performing the factory reset. If you use backup assistant, you can confirm that your contacts are saved on My Verizon. A great feature embedded into your Gmail account is that it backs up your contacts and calendar as well. I would also check to ensure that this info is on the Gmail website when you log in. As far as pictures, music, & videos, they are saved on your memory card, unless you changed this setting. I have the steps for the reset posted below based on which device you have.
1. Power device off
2. Press and hold VOL Down and Power button at same time until screen displays with 3 androids at the bottom
3. Press VOL down to highlight Clear Storage, press PWR Button to select option
Droid Incredible 2
Power device off
Press and hold VOL Down and Power button at same time until screen displays Boot Loader screen
Press VOL down to highlight "Factory Reset", press Power Button to select option
One this reset has been performed, the device would need to be reactivated & re-setup with your personal info. I recommend using the device without any 3rd party apps for about 2 days to ensure that the equipment is performing as it should. If so, then add apps, one at a time on a daily basis, so you can pinpoint which app is causing the problem.