Revocation of license for debt

No. They can try to collect money from you in various ways, including putting a lien on your car or other assets, or garnishing your wages (they can't do this automatically, but armed with a judgment in their favor, they can seek the appropriate court order), but your debt has nothing to do with your driving privileges. Of course, depending on the circumstances of the accident, you might lose your license for a period of time (too many points, etc.), but that and the judgement for a debt are separate.