There are instances when you really got to recover deleted text messages. You may need some special software to do it for you automatically but the downside is, there is no assurance that those deleted messages may be recovered or retrieved. Also, some data recovery services costs a lot more than the value of the text messages that you want to recover. Although some phones are rigged to automatically save a copy of the deleted text messages, there are many which doesn't have this nifty feature.
Phones that heavily rely on the sim card for messages storage has little hope of having deleted texts messages to be recovered. The sim or micro sim holds very little data and is automatically flashed upon deletion. That's why there are some companies specializing in mobile phone data recovery which of course includes sim card entries and messages but they cost a lot. Although those data recovery services costs a lot, the demand for such has dramatically increased for the last three years and still yet continues.
The data that your phone's sim card hold is way to little that you constantly need to remove some draft and outbox messages. Some newer phones however 'catches' the deleted text messages to the phones internal memory which is a lot bigger than that of the phone's sim card. If you got a phone with this feature, then you shouldn't be worrying about recovering deleted text messages in your phone. You can easily access that special storage folder at the 'logs' where text messages and call numbers are temporary stored. But if you have formatted your phone, then the log will be cleared and all past entries will also be deleted. You are left with little hope of retrieving deleted text messages of your phone.
Newer phones are even better. You can synchronize your phone to an app which enables you to store a copy of our text messages to an online or cloud storage. That is a very clever way to ensure that all outgoing and incoming text messages are copied and safely saved in your computer or somewhere in the cloud. But you must have installed the app and synchronized your phone before you can recover those deleted text messages and enjoy such service. So is your phone capable of enjoying such service? If yes, then why not try to install the app and test it yourself?
So to sum things up, yes there is a possibility that recovering deleted text messages is really possible! Is either by using proprietory date recovery software or using special apps if your phone is capable of such technology. Try those things and never lose hope! Technology is at your side and you got nothing to worry about.