Legal Question in Bankruptcy in New York

If you are filing a Chapter 7 Petition in Bankruptcy and your are filing on your own (not with your spouse) and if you are not going to be taking a homestead exemption, then you get a cash exemption of $2,500. In other words, if you do now own a home or are not taking an exemption in the equity in your home and you are filing single and your tax refund is for you only, the trustee will let you keep $2,500 and if you get more than this exemption amount (or if you have more than this amount in cash on the date of filing) then the trustee may take the excess amount and pay off creditors with it.