You might be charged with hit and run, and will need to work out the best deal you can with the prosecutor and Judge. Depending on the situation, it could be a felony. You need a good lawyer.
It is a crime to leave the scene of an accident. Get a lawyer and see if he can arrange for you to correct the problem without getting hammered by a criminal judge.
Leaving the scene of an accident is a crime in most states. If you haven't done so already, you should go to the police station and report what happened. Be honest, and tell them that you panicked.
If personal injury involved, you will be charged with felony hit and run. If only property damage misdemeanor hit and run tell your insurance co and let them pay the damage. It will go easier on you if you do.
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