Faith in Jesus Christ that leads us to repent and appeal to him results not just in forgiveness but in remission through his merits. Forgiveness occurs, but the power of Christ's atonement does more. It cancels or releases from debt because Jesus Christ pays the price of our sins on condition of repentance.
Another thing made clear in this chapter is our own role in what happens to us in this life and in the life to come. Because we are given agency, or choice, we are responsible for the outcome of our lives. We can believe, obey, and be saved through the merits of Christ; or we can live to ourselves and accept the eternal consequences.
29 And this to the intent that whosoever will believe might be saved, and that whosoever will not believe, a righteous judgment might come upon them; and also if they are condemned they bring upon themselves their own condemnation.
30 And now remember, remember, my brethren, that whosoever perisheth, perisheth unto himself; and whosoever doeth iniquity, doeth it unto himself; for behold, ye are free; ye are permitted to act for yourselves; for behold, God hath given unto you a knowledge and he hath made you free.
31 He hath given unto you that ye might know good from evil, and he hath given unto you that ye might choose life or death; and ye can do good and be restored unto that which is good, or have that which is good restored unto you; or ye can do evil, and have that which is evil restored unto you.