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Help Factory reset

I have an LG volt I have had it for a year now. It has been really slow lately and I want to do a factory reset. I was wondering if I do this would it bring back the speed that I desire or is there no point in doing this and should I just try fixing it with out doing a reset?
 
it could possibly bring back the speed. but you would obviously lose all of your data. you should back up any data you would like to keep prior to resetting anything.
 
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