A person's repentance usually comes when he or she has reached a dead end in life. Especially when one feels so miserable as a result of the consequences of one's own actions. Flashbacks of life suddenly come and present the wisdom of life, especially faced with the justice of God that overcomes human mortality. There is no other option for man but to repent and bow down to Him.
In this reading, the psalmist shows God's just side. He feels overwhelmed by God's wrath. This is a conclusion he draws based on his reflection on the pressures of life and his existence surrounded by people who wish for his destruction. Verses 2-4 imply that what happened was his own fault. He was at the end of his life so contemplation of death was inevitable. If he is in the grave then there is no longer the love and power of God.
The logical conclusion of the experience was the willingness to turn to God and submit unconditionally to Him. The God who had repeatedly saved Israel would surely save her too. The psalmist placed his hope back in God. Only God could save him. Therefore, with a clarion call he invites the faithful throughout the ages to raise their hope in God's steadfast love that delivers us from all things. The psalmist is truly turning to God and looking forward to His actions.
Maybe now is also the right time for us to repent and turn to Him, before it is too late. God is the only one who can deliver us from the chains of life. It is to God that we return all our hopes. Sin takes us away from Him, but God's mercy draws us back into His arms, provided we humbly express all repentance to the Lord.