Collins played for Wolves against Swindon in the previous round of the Carling Cup and was therefore ineligible to feature in Wednesday's 5-1 third-round defeat to Tottenham.
Defender Michael Hart should be passed fit after being substituted in the second half against Spurs with a knock.
Midfielder Chris Sedgwick is also expected to be available after missing the Tottenham game because his wife went into labour.
However, left-back Callum Davidson is ruled out for several weeks with a torn hamstring and midfielder Barry Nicholson remains a long-term absentee with a broken leg.
Winger Paul Parry also tore a hamstring in the recent 2-0 home win over Swansea and is set to remain sidelined.