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It depends on whether you are taking the verse all by itself or whether you are taking it in the greater context of Scriptural and Traditional and Patristic evidence.
“In the Gospel Our Lord says, “Finish your journey while you still have the light.” And in the words of the Prophet He declares, “In an acceptable time I have heard thee, and in the day of salvation I have helped thee.” St. Paul’s comment on this is: “And here is the time of pardon; the day of salvation has come already.” Solomon, too, says, “Anything you can turn your hand to, do with what power you have; for there will be no work, nor reason, nor knowledge, nor wisdom in the nether world where you are going.” And David adds, “For his mercy endures forever.” From these quotations it is clear that each one will be presented to the Judge exactly as he was when he departed this life. Yet there must be some cleansing fire before judgment, because of some minor faults that may remain to be purged away. Does not Christ, the Truth, say that if anyone blasphemes against the Holy Spirit he shall not be forgiven “either in this world or in the world to come”? From this statement we learn that some sins can be forgiven in this world and some in the world to come. For, if forgiveness is refused for a particular sin, we conclude logically that it is granted for others. This must apply, as I said, to slight transgressions, such as persistent idle talking, immoderate laughter, or blame in the care of property, which can scarcely be administered without fault even by those who know the faults to be avoided, or errors due to ignorance in matters of no great importance. All these faults are troublesome for the soul after death if they are not forgiven while one is still alive. For when St. Paul says that Christ is the foundation, he adds: “But on this foundation different men will build in gold, silver, precious stones, wood grass, or straw…and fire will test the quality of each man’s workmanship. He will receive a reward, if the building he had added on stands firm, if it is burnt up, he will be the loser, and yet he himself will be saved, though only as men are saved as passing by fire.” Although this may be taken to signify the fire of suffering we experience in this life, it may also refer to the cleansing fire of the world to come, and, if one accepts it in this sense, one must weigh St. Paul’s words carefully. When he says that men are saved by passing through fire, he is not referring to men who build on this foundation in iron, bronze, or lead, that is, in mortal sins which are indestructible by fire. He specifies those who build on this foundation in wood grass, and straw, that is, in venial or trivial sins which fire consumes easily'” (Dialogues IV: 41).