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Debt ceiling issue is still being issued by the Congress and the president. Social Security and Medicare may be at risk if the debt limit is not raised.

Debt collectors may not call your employer once you notify them in writing not to do so. You are protected by the Consumer Credit Protection Act of 1968, which limits how debt collectors can approach individuals with debt.

The bill performed to increase the federal debt ceiling was rejected by the House being considered as a risky toying with the issue.

In case the government misses the deadline to raise the debt limit, California's treasure Bill Lockyer will take out $5 billion to cover the operating expenses.