The likes of Leeds and Nottingham Forest are thought to be keen on signing Collison before the close of the loan window.
Collison has struggled to hold down a regular place in Sam Allardyce's side this season, making just six Premier League starts, but the Wales international is focused on working his way back into the manager's plans before the end of the season.
"If you look at the quality of our squad, there are 22 outfield players and there is a lot of quality not even making the bench, let alone the starting XI," Collison told the club's official website. "There is a lot of competition for places.
"The boys have been magnificent, so there has been no reason for the manager to change it too much.
"They have got the shirts at the moment and, if they keep producing, they deserve to keep them.
"The likes of myself and others are disappointed and are working hard in training so when that opportunity comes, it's up to us to take it and keep hold of the shirt."