Why we should be willing to forgive?

BIBLE PRINCIPLE: Colossians 3:13 "Continue putting up with one another and forgiving one another freely even if anyone has a cause for complaint against another. Just as Jehovah freely forgave you, you must also do the same."

What does it mean? In the Bible, sin is likend to debt and forgiveness is compared to the cacellation of that debt. (Luke 11:4) One reference work says that in the Scriptures the Greek word translated "forgive" means "to let go [of] a debt, by not demanding it." Thus when we choose to forgive someone who has wronged us, we let go of any need for reparations from the offender.

Is it practical today? As imperfect humans, we all sin. (Romans 3:23) Hence we are wise to be inclined to forgive others, for sooner or later we will need to have others forgive us. Moreover, when we choose to forgive, we also benefit ourselves.

What do you think some of the benefits are of being willing to forgive?