An anecdote: A few years ago I used to have my own domain. Then one day my credit card expired, the new one did not work and my account got frozen. I fixed it, then I forgot to actually extend the domain and it stopped working. Of course, no incoming email, no access to my old mail, etc.
Fortunately I could buy the domain again after a couple of weeks of time, so it did not end in a catastrophe, but it was truly a very stressful time. I know, it was my fault, but shit like this happens all the time to people.