Alot of people that are either new to pomeranians or are first time pom owners are not prepared for their to cute little fuzz ball to lose all of their hair. No there is nothing wrong with your puppy, its not sick. It is going through the Puppy Uglies. Anywhere from 3-6 months a puppy will start losing hair. First around the face and legs, then the whole body. In some puppies its barely noticeable, and in others it is quite alarming. Its all very normal. When the adult coat comes in, you will forget how awful your baby had looked.
A picture is worth a thousand words. Here is our boy Chico as he went through the puppy uglies. He had the worst case I have seen.
10 wks old 4 months 6 months 1 year