We know that a man is not justified by the works of the law but by faith in Jesus Christ, even we have believed in Christ Jesus, that we might be justified by faith in Christ and not by the works of the law; for by the works of the law no flesh shall be justified. “But if, while we seek to be justified by Christ, we ourselves also are found sinners, is Christ therefore a minister of sin? Certainly not! “For if I build again those things which I destroyed, I make myself a transgressor. “For I through the law died to the law that I might live to God. “I have been crucified with Christ; it is no longer I who live, but Christ lives in me; and the life which I now live in the flesh I live by faith in the Son of God, who loved me and gave Himself for me.
St. John Chrysostom comments that because of the death and resurrection of Christ, we are no longer under the judgment of the Law.
“And so he establishes three distinguishing features of the new covenant: one, that it wasn’t given on stone tablets but that it was given on tablets of flesh, our hearts; second, that the Word raced with ease and lit up everyone’s mind; third, that, when the law was dissolved, no one demanded payment for sins but each received forgiveness for their wrongdoings.” (St. John Chrysostom, The Cult of the Saints, pg. 131)
Because of Christ, God no longer requites from each of us payment for our sins/debts. Instead the Law has been set aside and we are given forgiveness for our sins, not the punishment we deserve.