According to Steve Shores there are a number of major consequences of false guilt. In essence, there is no hope in the system set up by the overactive conscience. You must always try harder, but you never cross the finish line. You seem to merely go in circles. Or perhaps it would be better to say you go in a spiral, as in a downward spiral.
Life is a perpetual treadmill.
You work hard and strive, but you never arrive. Life is hard work and frustration with little or no satisfaction. The overactive conscience produces constant self-monitoring. You are constantly asking if you are being an asset to other people and to God. You are constantly evaluating and even doubting your performance.