They can't erase your hard drive, but they can terminate your DVR service so you don't have access to your recordings. That's what happened to me, and even though I was forced to buy DVR service again, technicians were not able to restore it.
A Salesman who sold me the horrible FiOS One box told me that my recordings would be saved on the cloud. That's a lie. The saleswoman who sold me a renewal of my old contract told me I would have the same service including multi-room DVR. The written contract that I agreed to via email did not indicate they were removing my DVR service. They lied. They cut the access to my DVR service and I have no access to One of a Kind recordings that won't be played on TV again for me to see. And of course now I'm stuck in a 2 year contract with a $350 termination fee and cable service that I have no use for.