Maybe I can give you an answer from the Twelve Steps of AA, etc.
One of the steps talks about "Making Direct Amends" for the wrongs we have done. But the rest of the sentence ends "except when to do so would hurt them or others."
The literature of the various 12 Step programs makes it clear - You have to be careful about dumping your guilt to feel better - it can ruin others you are not even thinking of.
If you confess to that embesselment you did - it will send you to prison - fine, you deserve it. But it will ruin your wife and kids, ad they DO NOT deserve it - so you make amends by paying back the money slowly. I knew someone who was paying back money to someone. He bought money orders and signed them "Mickey Mouse."
You confess to a past adultary - and ruin two marriages. Or you decide to make it up to your spouse by being kinder to them, and more patient.
So telling the truth is NOT a cure all to for guilt. You have to look first for who will get hurt.
Speaking with a Spiritual advisor or religious leader may be the ebst thing to do.
I like what rainbow had to say. I don't think there is a cut and dry answer for your question. I think it really depends upon the situation. I've often found that when people are ready they will let me know. Talking it over with another person is usually best. Often I am too close to a situation to decide what is best. Good luck and God bless!!
I also like what was said. It is easy ...far too easy to dump the guilt thinking by confessing it we push it away and keep it away, but what caused it in the first place is what needs to be dealt with and forgiveness and healing received.
Thanks Rainbow_Ike for sharing your perspective and Northernlad for the original question and Punkinhead75 for his post