I used to work at a registrar and it's not like one day you wake up and BOOM the domain is gone. All give warnings weeks if not months ahead of time. Most give a couple days of leeway before turning off the domain. After they turn it off (i.e. no email, web or anything can use the domain) you have about 30 days before it goes into redemption, once in redemption it's a crap shoot if you can get it back but you still can.
If it was your business, then the domain is a valuable asset and should be treated as such. Much like a brick and mortar office. If you don't pay the rent, leave valuable customer information in file cabinets and are kicked out (after getting an eviction notice), don't complain if someone comes in and uses the space for a crack den and the customer info for their own nefarious purposes.
A few recommendations,
The trouble with opportunity is that it always comes disguised as hard work. -- Herbert V. Prochnow