If carpeting can not be dry all the way through with in 2 days, it needs to be replaced, especially if it is overlaying concrete. Concrete will absorb the water, carpeting needs to be ripped entirely up so that it can dry thoroughly.
Mold spores can begin to grow as early as 24 hours after a leak. It is important you understand how serious this can be to your living situation. Generally, if the area is small you may be able to remove a small portion of the wall and use a simple bleach application to kill the growth. If the area is large and you have no idea how deep or to what extent the mold has contaminated your home, you need to call a professional or the local health department.
If you tend to feel better and can breathe easier when you are not in your home for an extended period of time, you may have a toxin in your home such as mold. If you smell musty air or stale air it is likely there is a mold problem somewhere where moisture has not been able to dry out properly. In cases of flood damage, some insurance companies may even try to cover up areas that have been damaged by water, to save money...which poses a huge threat for mold growth.
For help processing water damage claims or questions in regards to how mold can be removed from your home contact email@example.com for a free consultation.