Joining in with the "don't panic" messages.
My waters went at 26 weeks, back in April, with lots of bleeding. I was given steroid injections and antibiotics, and luckily the tightenings I had allowed down. Was eventually sent home with antibiotics and twice weekly monitoring for infection at the hospital.
I had 5 more bleeds over the next 7 weeks, and each time, the contractions slowed. The plan was to get us to 36 weeks, if no sign of infection, and then induce if baby was head down, or planned C section if baby was breech.
I had a large bleed at 34 weeks, with another bleed found lurking behind the placenta, so was immediately induced (baby was head down already) and DS was born at 34 weeks and 1 day.
He spent 15 days in NICU, but other than being too young to know how to feed, he was perfect but small. He's now 11 weeks (5 weeks adjusted), 10 lb and starting to smile.
Once your waters break, about 50% of women will spontaneously go into labour in the first 24 hours, and 75% of women will go into labour within the first week of waters breaking. I was incredibly lucky to get to 7 weeks afterwards, but if you have no signs of contractions or immediate infection, then you are most likely to be monitored twice weekly (CTG, temp, bloods and blood pressure). You will also probably have IV antibiotics and steroids on hospital, and then leave with oral antibiotics, taking it up to 19 days of antibiotics in total.
Good luck!