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End of the line?

Hi we are looking for some advice as we dont know what else to do. We got a credit card back in Apr 1999 on which we were charged PPI. I called the bank 6 weeks ago to start the claim back process.

We got a letter today saying they wasnt paying out because we ticked a box agreeing to PPI all them years ago not really knowing what PPI was, they have even sent a copy of the agreement showing the box we ticked!

Is it worth us speaking to the Ombudsman or are we chasing a lost cause?
Please help!! thanks in advance for any advice.

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