In large pot, bring 4 quarts salted water to a boil. Stir in collard greens. Cook 15 minutes, or until tender; drain.
Meanwhile, in skillet over medium-high heat, cook bacon 7 minutes, or until crisp, turning once. Drain bacon on paper towels; cool and crumble.
In skillet with bacon drippings,k cook garlic, leeks and peppers 2 minutes. Stir in cooked collard greens and cook 3 minutes. Season with salt and pepper, if desired. Transfer mixture to serving platter. Top with crumbled bacon.