Do I have a virus on my iPhone 5C?  Why didn't a password change solve the problem?

My Windows Live Email that I only use on my phone is sending out emails to my contacts, and I changed my email password, but I am still having the problem. This is embarrassing because I have many professional contacts saved in my email.  I don't know what to do. I really hope someone can help! My phone is from Asurion. It is not jail broken-really I don't even know what that is! I do not have wifi, so I am hoping I will not have to reset my phone.  Any help will be greatly appreciated!!!

This is not due to malware on your iPhone. There is no known malware capable of infecting an iPhone, unless it has been jailbroken (ie, hacked to run apps from outside the App Store).
Someone hacked your e-mail remotely. Changing your password should remove access, but the spammer can still spoof your e-mail address on the From line and continue sending messages that look like they're coming from you. There's not much you can do about that except alert your contacts and wait for the spammer to stop and move on.
Alternately, some e-mail accounts provide features that can allow a hacker continued access even after you change the password. GMail, for example, has a delegation feature that can be used to give someone else access, and hackers have been known to use this feature to maintain access across password changes. I am unfamiliar with Windows Live Email, but you should check for any similar delegation features.

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