So I noticed in Settings that Personal Hotspot is there under Bluetooth and I already have a password? I've never set it up...so is there a way to remove this? Is this normal?
I've never paid for Hotspot capabilities on my phone though? My girlfriend is on Verizon (she's updated her iPhone 5) and doesn't have this option listed.
I have some random password chosen for me...so that's normal?
And what happens if I use it but haven't paid for it in my plan?
yea, as stated, the option is available to people who have the shared data plan as its included with the plan. the password there is the stock password that it comes with the phone. just set up your own if you would like. its there to prevent someone else from logging into your hotspot should you activate it.