In order to hard reset a LG Thrive P506, you should perform the following steps.
Remember! Hard reset will delete all the data on your device; pictures, contacts, messages, apps and more.
LG Thrive P506 device will be brought back to the default configuration of a brand new device.
1. Hi. First of all, switch the phone off by holding down the Power button.
2. Now hold down the Power and Volume Down and Home buttons.
3. Release buttons held when the LG logo appears.
4. Good job, you have completed the hard reset process.