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Tight times: Contractors waiting … waiting … waiting to be paid
By Caitlin Coakley CHARLOTTE — When they go into business, most contractors know they won’t be getting a steady biweekly paycheck. But with the recession, they increasingly are not getting a paycheck at all. “There are a lot of companies that need a service, but don’t have the money to pay for it,” said David Smith, Jr., operations manager for RDS Electrical Contracting. “They don’t tell you that up front, though.” The risk of not being paid on time, or not being paid at all, is part of the nature of the business, said Bill Stricker, director of the Carolinas Associated General Contractors. But within the past year, Stricker and others say, they have seen more contractors struggle to get their money. “I filed more liens in 2009 than in the rest of my career,” said Scott Bovit, partner with Charlotte-based SiteWorks LLC and a contractor since 1984.