Psalm 130

v.3

If you, O Lord, kept a record of sins, O Lord, who could stand?

v.4

But with you there is forgiveness; therefore you are feared.

The offender is so pardoned that he is disposed to worship and honor God, for God has revealed himself as one who forgives sin, in order that the sinner may be encouraged to come to him, and be his true worshipper.

AlbertBarnes

The word rendered ‘forgiveness’…. literally means cutting off, and so suggests the merciful surgery by which the cancerous tumour is taken out of the soul.

AlexanderMaclaren

See also Spurgeon on Psalm 130 4 Psalm130 v 4.