One possible channel for black hole formation is the collapse of a rigidly rotating massive neutron star as it loses its angular momentum or gains excessive mass through accretion. It was proposed that part of the neutron star may form a debris disk around the black hole. Such short-lived massive disks could be the sources of powerful jets emitting cosmological gamma-ray bursts. Whether the collapse creates a disk depends on the equation of state of the neutron star. We survey a wide range of equations of states allowed by observations and find that disk formation is unfeasible. We conclude that this channel of black hole formation is incapable of producing powerful jets, and discuss implications for models of gamma-ray bursts.