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Defending a hit and run charge can be very difficult for several reasons. First, because you left the scene of the accident, the police or law enforcement officials may presume you were guilty of causing the accident in its entirety, since fleeing the scene suggests guilt.
If there was no bodily injury whats so ever (even if someone in the other car says something to the extent of my neck hurts it could be upgraded to felony hit and run) Felony hit and run is a pretty serious charge. Misdemeanor hit and run could result in huge fines, revoked license, getting sued by the person of the other car (if they wanted), and probably a few days in jail and probation. Of course that depends on your states laws and if you have a prev. criminal record. If injuries are involved it is a felony.