Well, first thing >> about time out, this is a feature used to disconnect the network connection by various networking applications like internet connection(through dialler) email program, FTP and so on. This is so to protect your computer/login from unauthorized access.
However, as you said you are using IE, I guess that it is more of a problem with IE. Accessing FTP through IE have lot of problems. You better use any other FTP program. You can either download FTP programs from online. Or, use a web based FTP program. Like:
http://www.net2ftp.com/
You'll need your FTP server name and Username(in case of bizhat it would be yourusername.bizhat.com) and of course the password. The port will be the same unless your web hosting specifies it otherwise. Also, need not care about other fields.
Still have problems, let me know.