There is more to the story. If a company obtained a judgment, that judgment is an account receivable and an asset. When a company goes out of business, assets are liquidated. It is possible that some entity purchased or has possession of the judgment and that entity could try to collect it against you. The mere fact that the company that obtained the judgment against you went out of business is not cause for getting the judgment vacated.

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Secondly, the judgment is entered by the court. As such, the judgment is public record regardless of who obtained the judgment. So from a credit reporting standpoint, even if you disputed the judgment with the credit reporting agencies, it would likely come back verified because the judgment exists as a public, court record.

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It sounds like these judgments may be old, but if not, you may still have time to file a motion to vacate the judgment for lack of service. Your starting point would be to obtain the case file from the court that entered the judgment. What you are looking for is the affidavit of service which will explain how the plaintiff alleges you were served with the summons.

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Once you have the case file, then you need to speak to an attorney to find what options you have, if any.