Glen Johnson put them into the lead after just 10 minutes when he produced a goal-of-the-season contender from the edge of Jussi Jaaskelainen's penalty area.
Mark Noble slotted from the spot after Joe Allen was adjudged to have handled in the penalty area before Steven Gerrard turned a Matt Jarvis cross past his own 'keeper to give West Ham the lead.
However, Joe Cole struck against his old club to equalise and then Collins turned a Jordan Henderson cross into his own net to send the travelling Reds into euphoria.
All the build-up to the clash revolved around the absence of Luis Suarez, who was ruled out after picking up his fifth yellow card against Southampton, but his replacement Shelvey proved to be the hero of the hour.
- MoTD Highlight