Hi. Is there any kind of software that can help me recover my files/folders after I have formatted my hard disk?

Nope.
A format completely wipes all the data from your drive.

There are specialist companies out there that do data recovery, but your looking at big bucks and a lot of time.

Yes there is but it is unlikely that you'd be able to recover everything. You can start by NOT installing anything on your drive. Remove it from your system and install it in an external USB enclosure. Then mount it as a read-only partition on another computer. Then try one of these tools:

http://www.recovermyfiles.com/ (With the demo you can see what is recoverable but you'll have to purchase to recover).
http://www.acronis.com/homecomputing/products/recoveryexpert/
http://www.cgsecurity.org/wiki/TestDisk
http://www.runtime.org/
http://www.dtidata.com/recover_it_all.htm

If you Google for "recover data format" you'll also get a list of other try before you buy software. If your data was very important then I'd go with these options. If these tools don't give you much luck then try some of the Unix tools that recover data. Otherwise, you maybe forced to go to a paid-service for data recovery and pay 100's or 1000's to get your data back.

Good Luck