I had also stucked in this issue and recovered using http://www.recovermyfiles.com/
It will take lot of time, any how you will get the data back
I've had the same issue, you should remember to take backups on various different storage devices, you can't rely on just one, you should buy a couple of disks and back up that way, you are less likely to loose all your stuff the next time.
it probably asked you to format because of a bad partition or sector of your drive normally because a surge on the line or you have dropped it.
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to solve this problem youneed access to apowerdata recovery software, install the software and it will rescue yor data then yo can re format and safe the rescued data back onto the harddrive.
Always disconnect your USB harddrive in the correct manner and try not to disconnect in the middle of transfer mode. Make sure when you connect the hard drive to your PC you booth the drive befote connecting the USB cable to yor PC.
the data recovery software is widely available and is user friendly
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