LG Optimus L7 P700 hard reset
Using the Optimus LG P705 hard reset
(Factory reset P708)
If your phone needs to be restored to its original condition, use hard reset to reboot your phone.

1. When the phone is switched off, press and hold the Volume down key + Power key with your left hand.

2. When the LED on the bottom of the phone lights up, touch and hold the Menu key with your right hand. You need to do this immediately, before the screen displays the LG logo. Make sure your left hand is still holding the Volume down and Power keys.

Then release the power key at vibration time.
3. When the LG logo is displayed on the screen, continue to hold the keys for around 2 seconds, and then release all them at the same time, before the LG logo disappears.

Leave your phone for at least a minute while the hard reset is carried out. You will then be able to switch your phone back on.

Caution: If you perform a hard reset, all user applications and user data will be deleted. This cannot be reversed.

Remember to back up any important data before performing a hard reset.

SOURCE: LG Optimus L7 P700 hard reset - PDA Smartphone PNA hard reset soft reset