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Woodlawn, Md. -- The Federal Trade Commission has launched an
investigation into BlueHippo Funding, a Woodlawn, Md.-based company that
sells computers and plasma TVs to people with poor credit, The Baltimore
Sun reported on Wednesday. Both the Better Business Bureau and Maryland
Attorney General's office said that they have logged several hundred
complaints about the three-year-old company, which critics say charges
customers -- most of whom can't qualify for financing elsewhere --
exorbitant
prices, and sometimes doesn't deliver the equipment as promised. Blue Hippo
said that the number of complaints is small compared with the 160,000
customers that it has served since 2003, and that it must charge more to
compensate for the large percentage of customers who default on their
payment agreements once they receive their equipment. The company is
currently facing lawsuits filed by the Illinois attorney general's office
and a
pair of consumers in California, as well as an investigation by the Florida
attorney general.
http://www.baltimoresun.com/business/bal-te.bz.bluehippo15mar15,0,7179268.story
http://www.bluehippo.com/