We discuss the stability and construct dynamical configurations describing the gravitational collapse of unstable neutron stars with realistic equations of state compatible with the recent LIGO-Virgo constraints. Unlike other works that consider the collapse of a stellar configuration without a priori knowledge if it is stable or unstable, we first perform a complete analysis on stellar stability for such equations of state. Negative values of the squared frequency of the fundamental mode indicate us radial instability with respect to the collapse of the unstable star to a black hole. We find numerical solutions corresponding to the temporal and radial behavior during the evolution of the collapse for certain relevant physical quantities such as mass, luminosity, energy density, pressure, heat flow, temperature and quantities that describe bulk viscous processes. Our results show that the equation of state undergoes abrupt changes close to the moment of event horizon formation as a consequence of dissipative effects. During the collapse process all energy conditions are respected, which implies that our model is physically acceptable.