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What to do if it is impossible to complete an accepted work within deadline?

Hello, I'm new to odesk.I took up a fixed price job yesterday with a deadline of 12hrs.4hrs are remaining. I don't think I can complete the job ever. :S How can i step out of this job? Thanks in advance

Did you discuss the job with the client? Did you agree on any deadline? Did you agree on the scope of the job? How can you take on a job and only then realise you can never complete it? Did you not know what the job was? How can you step out of this job?? By COMMUNICATING with the client. Professionally and in a workmanlike manner, and explain your situation. The sooner you do this the better. If you've not been paid the client can close the contract and no feedback is incurred, which might be just as well in this case. But learn from it and next time discuss and agree the scope of the job, deliverables and deadline beforehand. By the way, your profile doesn't say much about you, especially for the hourly rate you ask. And the first line has a glaring spelling error (deligent). I'd suggest you spend some time building a good profile that advertises you properly with specific skills. I'm sure you can find lots of info about that on here if you do a search.