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First are you rooted with recovery installed. Or just stock alone? Either way it sounds like you need to factory reset. For those rooted with recovery installed. They can reboot to recovery then do a complete wipe minus external sd. Then reinstall stock rom,reboot and go to settings,system updates and update the prl and profile. Should be fine. Or if stock unroited,these users can do a factory reset via system,backup and reset. You can always try clearing the data on contacts and LGTeleservice apps as well.
Ok. Well I assume you do actually have service with a carrier. Which carrier are you with by chance? I will try to help figure out what the issue is.

Hi Rumon. If you have flashed any of our roms that may be your issue. Your Volt would be an international model I assume. If you have flashed any of our roms you could be having apn issues because of it or various other issues as well. The best advice I could give would be to visit LG website and see if a image of your particular device and service is their for you to flash using the lg tool kit. Outside of that I cant offer much further assistance.
Generally speaking, not have the carrier name displayed won't affect anything. Most of our phones lost the carrier name when flashing the stock tot file before was had other root methods and it still worked fine... does it display absolutely nothing, or does it say LG where the carrier name should be?
Also, is this a new development?