godaddy.com Expired domain hostage taking Scottsdale, Arizona

I registered my domain name, which is my first and last name and had it for 3 or 4 years. When renewal came  around, I was quite broke, so I missed the chance to renew it. When I was finally able to afford renewal, which they still offered me, they tagged on an 80 dollar renewal charge! Basically, they are holding my name/domain hostage and trying to extort this money from me, rather than letting the name go so I can just renew it again. This is blatantly criminal, much less unethical and they must be prohibited form engaging in such fraudulent practices!