Why don't you man up and ignore the insecure dimwit??? Seriously, how bad can what he says REALLY be? If what he says is true and you just can't stand to hear it, you're living in denial and need to get it right. If its not true, you are a wuss for letting it bother you. You can always pay him back. There are innumerable ways.
Don't text the bully. Ignore the bullying and don't be a victim. Stand up for yourself and keep yourself confident. It's hard but, trust me, when you get through this you'll be a stronger more patient and more sympathetic person.
Depends on what your definition of "bullying" is. If it's teasing, you just need to bear with it, if you go to an adult you'll never learn to fight our own battles. If it's worse or physical... That's different. Get an adult you trust. And don't text the bully. Hope I helped! :)