It would be nice to know something about your version of AE, your OS, and the type and size of your Photoshop file. In many cases you will run into errors trying to import a PSD that is CMYK. AE only works with RGB. Check the image type. If that doesn't fix it see the first sentence.
I am using CC and I'm on windows 8.
these photoshop files aren't big. 1100x800 typically. with a couple layers.
when it works it works fine, but it is randomly getting hung. they are all rgb.